Crude Oil Prices Hit New Record: Petrol Prices Set To Reach £1 Per Litre

Both the AA and RAC have said they expect petrol prices to hit £1 across the country in less than a month.

Petrol prices are on the rise due to rising oil prices as London-traded Brent Crude oil has hit a new all time record.

Oil prices hit over $81 today and show no signs of slowing down.

This is bad news for motorists as these higher prices are on top of the 2p fuel duty surcharge due to be implemented on lst October.

The reason oil prices have risen is partly due to oil companies evacuating the gulf of Mexico in the light of a recent tropical storm threat.

Do you think oil prices and the cost of petrol will continue to rise?

Should the government reduce the tax on petrol to bring down the price?

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